Mostly original content that examines financial surreality in equity markets in general, and the Japanese Stock Market in particular.

Tuesday, July 03, 2007

New Additions to the Hedgies Lexicon

Some new definitions to add to the hedgies lexicon:

"ABX'ed" - What happens when the basis blows out and the OTC hedge basis some ABX Index behaves opposite to the highly leveraged portfolio of underlying crap that you own resulting in large losses for your investors, the eventual closure of business, and hours of psychotherapy.

"CLO'bbered" - How an erstwhile manager long the bottom tranches will describe his performance to his investors in his quarterly letter.

"Deep-SPX'ed" - Material under-performance and loss of assets as a result of being short the S&P500 index following the swoon in late February.

"REITization" - The epiphany that a portfolio manager has late in Q2 2007 that perhaps he has overstayed his welcome in real estate stocks.

"PE'ed Off" - That shitty (and angry) feeling a Long vs. Manager has waking-up yet again to find that yet another short position in his portfolio has agreed to be taken private at an enormous premium.

"MOTHR F*#ked" - Any stock in the TSE MOTHRs index (YTD -18%!!)

"KIWI'ed Out" or "Pounded" - Any short bet against any carry trade.

and one from Washington, DC

"Libbyrated" - Using the power of the Office of the President to release a convicted felon from doing time.

(Fade in to weathered porch with in Appalachia, rusted washing machine in the un-mown yard, next to a 1967 chevy pick-up on blocks, and mangy mongrel in the its shade) ...Deliverance-style Banjo music starts playing, while Cassandra's sitting in a rockin' chair creakin' away...

Escape From the Rat Race

Clustermap

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